@SPML_Infra is looking to raise upto Rs 300 Cr from PE investors for its Rs 700 Cr Bhiwandi water project.
The company has created a SPV - @SPML_Bhiwandi Limitedfor the project and will raise the balance Rs 400 Cr though debt. The project is expected to be operational by 2012-13.
The company has started negotiations with US based Water Asset Management and Veolia Water for the funds.
@SBICapital is advising SPML on the deal.
Transaction Reference: ET